Mortages of the week

Barclays has increased the price of its leading two-year fixed rate available for mortgages up to £3 million.

The bank has raised its fantastically low 1.44% mortgage to 1.59%, which is fixed until 30th June 2017. The overall cost for comparison is 3.7% APR.

After the fixed rate period the mortgage will revert to 3.49% over the Barclays base rate, currently 3.99%.

Barclays has also increased the arrangement fee on this mortgage from £1,499 to £2,999 - while the minimum loan has been raised from £5,000 up to £1 million.

Aaron Strutt, product manager at Trinity Financial, says: “Barclays 1.44% rate was so impressive that it’s a shame to see it withdrawn, even though the new mortgage still offers great value for money.

“Santander recently improved their large loan mortgages and they suddenly look more attractive following Barclays’ rate hike. It will be interesting to see if rates come down again over the coming weeks.”

Monthly repayments

If you wanted to borrow £2,000,000 over a 25 year term, the monthly payments on Barclays new two-year fix would be £2,650 on interest-only or £8,083 on full capital repayment.

For help to secure a leading mortgage rate, call Trinity on 020 7016 0790 or complete the enquiry form below.

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To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

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The guidance and/or advice contained within this website is subject to the UK regulatory regime and primarily targeted at consumers based in the UK. For more please read our guidelines below:

Your home may be repossessed if you do not keep up repayments on your mortgage.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances (i.e. £1,000 on a £100,000 mortgage). A typical fee is £500 plus we will receive commission from the lender.

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Trinity Financial is a trading name of Trinity FG Ltd, registered in England and Wales at 4th Floor, 1 Lumley Street, London, W1K 6TT, registration number 07370858. Trinity FG Ltd is an appointed representative of PRIMIS Mortgage Network, PRIMIS Mortgage Network is a trading style of Advance Mortgage Funding Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 305008) for mortgage and non-investment insurance advice. The Financial Conduct Authority does not regulate some forms of Buy to Let.